The Minister of Power Works and Housing, Babatunde Fashola yesterday alleged that some electricity Generation Companies (GenCos) were planning to disrupt power supply to score political gains. He said a report to that effect is already with him. "Let me say it very clearly to some of these people that I get reports on some of the clandestine meetings they hold with the view to disrupt power supply for political capital." He also said the power firms have dragged the… Read more

The House of Representatives committee on Power Wednesday queried Nigerian Bulk Electricity Trading Plc over the utilization of N22 billion monthly on gas without commensurate result.. Subsequently the lawmakers summoned the Minister of Power, Mr Raji Fashola over the violation of the 2017 Appropriation Act. In a bid to obtain relevant information, the Committee also summoned the permanent secretary, Mr. Louis Edozien and Managing Director of Transmission Company of Nigeria (TCN) to come along with the Minister. The minister is to give details on the activities of… Read more

• GenCos to NERC: add stranded 2,000Mw to capacity The Federal Ministry of Power, Works and Housing may bow to pressure from electricity distribution companies (DisCos) to hike electricity tariffs as one of the solutions to resolve the crises in the power sector. The Permanent Secretary, Ministry of Power, Louise Edozien, who gave indication to this yesterday in Jos, lamented that low tariffs remained a stumbling block on the way of developing the power sector. He spoke during the opening… Read more

• Illiquidity in power sector hits N1trillion The Association of Nigerian Electricity Distributors (ANED) called on the Federal Government to probe the Nigerian Bulk Electricity Trading (NBET) Plc over inflation of invoices to Electricity Generation Companies (GenCos). Its Director of Research and Advocacy, Mr Sunday Oduntan at a briefing in Abuja, said NBET and power generators have to open their books for scrutiny. He called for immediate intervention in the power sector to make it more sustainable, stressing that the… Read more

Following the permission for eligible customers to purchase electricity directly from the electricity generation companies (GenCos), the Transmission Company of Nigeria (TCN) has assured power producers of its capacity to transmit 6,000megawatts ((Mw) of electricity. The Executive Secretary, Association of Power Generation Companies (APGC), Barr Joy Ogaji, told reporters in Abuja yesterday that the TCN has always recorded stranded 2,000Mw that is readily available for customers. She explained that power for eligible customers will not in anyway affect residential customers… Read more

There are fresh insights as to why the operations of the different power generation companies (GenCos) across the country have been rendered prostrate. The Nation can authoritatively report that the over N400billion debts incurred by the various electricity distribution companies (DisCos) has almost crippled the activities of the GenCos. In a recent interview with The Nation, Dr Joy Ogaji, the pioneer Executive Secretary, Association of Power Generation Companies (APGC) had disclosed that GenCos are being owed over N400billion in accumulated… Read more

The power generation companies (GenCos) are finding it difficult to get loans from banks for their operations, the Association of Power Generation Companies (APGC) Executive Secretary, Dr Joy Ogaji, has said. She said banks are not ready to provide loans to the firms because, they would not pay back. She said the development made the firms to seek payment for electricity generated and supplied to the power distribution companies(DisCos). In a chat with The Nation, Ogaji said the controversy among… Read more

Investors in the generation companies (GenCos) have warned of an imminent blackout nationwide if the N601 billion debts owed them by consumers through the off-taker, the Nigerian Bulk Electricity Trading Plc (NBET) - a Federal Government’s owned public liability company. The investors spoke yesterday at the Nigeria Power Summit, part of the ongoing Nigeria Oil and Gas Conference (NOG) holding in Abuja. The Managing Director and Chief Executive Officer of Mainstream Energy Solutions Limited, Mr. LamuAudu, stated that only 20… Read more

• Gas accounts for 40% of electricity tariff The Federal Government underpays power generation companies (GenCos) by over 70 per cent (about N30billion) for their services, thereby compounding their financial woes, The Nation has learnt. The Executive Secretary, Association of Power Generation Companies (APGC), Dr. Joy Ogaji, told The Nation that the best and urgent step the government should take to make the power sector efficient, is to substantially improve liquidity in the sector by paying the debts owed the… Read more

The inability of the Federal Government to pay over N120 billion owed power generation companies (GenCos) has hampered their ability to operate efficiently. Former Executive Director, National Integrated Power Project (NIPP), Dr Albert Okorogu, said power generation companies, including the NIPP plants, were in a precarious situation because of their inability to raise enough money for production. He said the firms’ hope of reviving their financial position was dashed by what he described as “tactical silence” of the government on… Read more

The power generation companies (GENCOs) may have drawn the battle line with the electricity distribution companies (DISCOs) over the growing indebtedness estimated at over N400billion, a development experts believe may have adverse effect on the already deplorable power situation across the country, reports Ibrahim Apekhade Yusuf Time was when the power generation companies (GENCOs) and the distribution companies (DISCOs) were best of allies ever but all that has become a thing of the past now as both of them no… Read more

•Firms may pack up soon, says group The Federal Government is owing power generation companies (GenCos) over N400 billion, Association of Power Generation Companies (APGC) Executive Secretary Mrs. Joy Ogaji has said. She said the debts were from November 2013 to last month. Mrs. Ogaji, in an interview with The Nation, said Egbin Power PLC was owed N93 billion and Niger Delta Power Holding Company (NDPHC), N105 billion. Others are Ughelli Power Company ( N50 billion ), Geregu Power Plant(… Read more

•Operators seek lifeline from govt Power generation companies (GENCOs) have said the over N200 billion debt owed them by customers may affect their operations if the government does not intervene fast. Association of Power Generation Companies (APGC) Executive Secretary Dr. Joy Ogaji said the matter was getting to crisis point. She warned that cessation of operations was imminent as the bulk trader, the Nigerian Electricity Bulk Trader (NBET), is unable to commit to the terms of the power purchase agreements… Read more